News archive - Montenegro - the government approves the privatisation programme for 2008

On March 6, 2008, the government of Montenegro adopted the 2008 privatisation programme.

Deputy PM Vujica Lazovic noted that the list earlier adopted by the Privatisation Council was amended by the power utility Elektroprivreda Crne Gore (EPCG). The state is to preserve 55% controlling stake in EPCG, while the sale of a minority package will secure investments for the rehabilitation of the existing facilities and construction of new ones.

The government obliged the privatisation office to elaborate in 15 days denationalisation strategies for tobacco producer Duvanski Kombinat Podgorica, Institute for Physiotherapy Medicine, Rehabilitation and Rheumatology “Dr Simo Milosevic”, electric appliances maker Elektroindustrija Obod, and the small hydropower plants, which are currently in EPCG structure. The plan foresees continuation of the launched last year privatisation process in insolvent agricultural producer Montepranzo-Bokaprodukt and ship repairing Jadran Shipyard. Moreover, the tourist companies HTP Budvanska Rivijera and HTP Ulcinjska Rivijera are to be slated for privatisation this year, as well as the Niksic-based Ferrous Metallurgy Institute, oil company Montenegrobonus, Marine Bar, and Barska Plovidba. Following the adoption of the restructuring programmes, the strategic companies Luka Bar, Montenegro Airlines and Zeljeznica Crne Gore are also to be privatised.

Source: Intellinews

Entry created by Elke Dall on March 10, 2008
Modified on March 10, 2008